Bush Expresses Disappointment Over US-Colombia Trade Deal

President Bush says the proposed U.S. trade deal with Colombia is "dead," unless House of Representatives Speaker Democrat Nancy Pelosi schedules a vote now.

Mr. Bush spoke to reporters briefly Monday, after meeting with his Cabinet.

He said it was a big disappointment that the House of Representatives last week moved to indefinitely delay a vote on the deal with Colombia. The House vote eliminated a rule that would have forced Congress to vote on the controversial trade deal within 90 legislative days.

Calling it an agreement that was good for American consumers and for the national interest, the president said the Congress has let down Colombia, an important ally.

Mr. Bush also called on Congress to act to make tax cut permanent and to help U.S. families struggling to hold onto their homes amid the housing crisis. He said laws should not bail out lenders but be designed to keep homeowners financially solvent.